|MAY 25, 2017|
- CMA CGM to levy US$150/TEU Booking Cancellation Fee from June 1
- Maersk Line reports rail congestion out of Long Beach TTI Terminal
- Port of Incheon dredges to 16 metres to dock 8,000-TEU ships
- Guam governor fears defence scheme's end will bring shipping monopoly
- CMA CGM launches 2nd loop between India, Mideast and Africa
- Hapag-Lloyd SEC makes New York terminal shift from GCT Bayonne to NYCT
- Baltic Dry falls for 8 days to 956 points, Indian shipping fearful
- GAC Samudera Logistics to open multi-user, pharma hub in Indonesia
- China Trade Week hosted by Ghana aims to strengthen trade ties
- INTTRA sees three techno trends converging on world box shipping
- Pilots swarm Amazon AGM to protest working conditions
- Kalitta Air takes leased 747-400F from General Electric's GECAS
- DHL doubles size of Brussels pharma facility to 5,300 square metres
- HNA opens 2 Belt and Road routes from Xian to America, Europe
|MAY 24, 2017|
- BBC Chartering launches "BBC Euro-Gulf Express Line"
- Digitisation seen as a competitive necessity for container shipping
- Adani Ports FY17 revenue up 19 pc, PAT up 35 pc
- Arjuna Ranatunga replaced as Sri Lanka's Ports & Shipping Minister
- Cochin Port to commemorate arrival of first ship
- V. O. Chidambaranar Port clinches Special Achievement award for maximum capacity addition of 44.94 mtpa in 2016-17
- 'SMART Railways Conclave' on June 6
- CONCOR commences train service from ICD Agra to Mundra Port
- GST seen as biggest economic achievement of Modi govt
|MAY 24, 2017|
- Hapag-UASC merger closed at last
- CargoMate system aims to end port delays
- Hoegh LNG upbeat as profit jumps and outlook brightens
- Sovcomflot grows specialist fleet but Q1 profit falls
- Golden Ocean sees volatile but recovering dry bulk market ahead
- Seadrill in advanced talks over recapitalisation but warns of stakeholder losses
- Tarbit orders two high-heat cargo carriers from RMK
- Yangtze River teu throughput expands heavily in April fuelling congestion at Shanghai
- DSME claims 'superiority' in LNG carriers despite losing patent
- Elderly tonnage dominates demolition sales as prices stay weak
- Product tanker mega merger sees Scorpio take on 27 Navig8 vessels
|MAY 24, 2017|
- Hapag-Lloyd finally completes merger with UASC
- Angry transport sector may pass €40 French foreign worker fee to customers
- Bish, bash bosh... that's Jaguar Land-Rover exports on the wing
- Don't underestimate the air freight forwarder: carrier digitisation is not market disruption
- China plans cold chain regime for food logistics as spoilage limits volumes
- Amazon and Nippon Express to help Japan's small businesses sell to US
|MAY 24, 2017|
- Stolt-Nielsen orders two dual-fuel 7,500 cu.m LNG carriers
- Scorpio to acquire Navig8 products tankers through merger
- Skangas names European-built LNG bunkering vessel
- NTSB reports on NYC area tugboat sinking in which three died
- MAN engines power hybrid port patrol boat
- Red ink first quarter for Navios Maritime Holdings
- First Philippines STS LNG transfer, more to follow
|MAY 24, 2017|
- Panamax bulkers slump to five-month low amid debates over China factor
Braemar ACM trumpets long-term benefits of One Belt, One Road
- Scale alone will not save you, say tanker experts
Industry voices cast a critical eye over the Scorpio and Navig8 deal in a world with excessive tonnage and tight capital
- Chinese finally return to Nor-Shipping... sort of
More Chinese exhibitors in Oslo this year, but Japan and South Korea seem to have stronger line-ups
- UK port security unchanged despite Manchester terror bomb
Dover on 'heightened security' for some time, statement confirms
- Stolt-Nielsen inks first LNG carrier orders
Chemical tanker giant gets serious about LNG as it builds its small-scale fleet
- Evergreen to stay with UK flag - for now
Boost for UK Ship Register as Taiwanese group decides to remain after considering alternatives
- Ocean Yield amends charters to reflect Scorpio/Navig8 merger
We now have a much stronger client, says Ocean Yield boss
- Spanish ports strike cancelled as negotiations start up again
Go-slows halted as unions and employers meet to nail down rules of new legislation
- Hoegh shines as LNG demand climbs 13%
Oslo-listed gas company sees results beat expectations
- Consolidation action shifts to product tanker markets
Scorpio-Navig8 deal to create world's largest product tanker fleet
- Scorpio Tankers and pursuit of market supremacy
Premium stock valuation is key theme behind recent mergers
- Sovcomflot first-quarter net profit plunges amid weak tanker rates
Time charter equivalent revenue falls to $274.4m from $290.8m year on year
- Hapag-Lloyd to focus on integrating UASC
Work on amalgamating services to begin in eight weeks, now that merger deal is finalised
|MAY 24, 2017|
- Hapag-Lloyd ends free gensets for US reefer shippers
- FMC looks to increase limited industry input on regulation
- Brazilian exports power through tainted meat scandal
- Higher port truck weight law boon to Texas exporters
- US, Mexico to reopen Laredo border crossing
- Roadrunner picks new CFO amid reorganization, relocates
- Hapag-Lloyd, UASC close merger
- Acquisitions fuel Eimskip revenue jump
- Adani Ports breaks 4 million TEU for first time
- Strong growth contributed to Shanghai congestion in April
|MAY 24, 2017|
- International coalition mulls carbon pricing for shipping
Public-private sector group Carbon Pricing Leadership Coalition seeks to engage industry about decarbonisation.
- Scorpio Tankers raises $200m for Navig8 fleet deal
Tanker owner sells 50m shares at $4 each to help fund $1.145bn purchase.
- KOTC launches VLCC and VLGC newbuilding tender
Korean, Chinese and Japanese shipbuilders in the frame for Kuwaiti contracts
- France identifies faults in Royal Caribbean lifeboat death
But investigation board issues no recommendations after cruiseship giant takes quick action in response to Harmony of the Seas incident.
- Stolt signs up for small-scale LNG ships
First of up to five vessels for new venture Avenir LNG fixed to an energy major
- Kherson Shipyard cuts its loss
Ukrainian plant improves annual result despite fall in revenue.
- Solstad secures 500 days of employment
Oslo-listed offshore vessel owner wins new contracts and extensions for four PSVs.
- Navios Holdings sells two, buys two and reports wider loss
New York-listed shipowner offloads supramax duo and purchases leased products tankers.
- Severnaya falls to loss in first quarter
Russian shipbuilder hit by 40% revenue fall.
- Masked men raid chemical tanker
Robbers armed with knives board ship at jetty in Indonesia.
- Navig8 Product deal gives Scorpio Tankers $3bn fleet
Merger places Emanuele Lauro-led company ahead of Fredriksen, Angelicoussis and MOL in tanker fleet value.
- Hapag seals landmark merger with UASC
German owner does not plan to invest on newbuildings as it becomes the world's fifth largest liner company.
- Western Bulk sets date for OTC return
Jens Ismar says time is now right for shares to be listed on junior market.
- Topaz sees red but remains stable
Offshore vessel owner swings to a loss but not dissatisfied amid unprecedented challenges in the industry.
- Eimskip profit chopped as costs rise
Icelandic container line hit by depreciation, fuel and finance expenses.
- Maersk Drilling agrees drillship pay cut
ExxonMobil pays $22.5m to keep 2014-built vessel under its umbrella until December.
- P&O brings in Bore car carrier
UK ferry group charters Finnish ship after problems with Pride of Bruges.
- AMSC eyes expansion opportunities
US tanker owner says it can diversify its fleet after cutting loss.
- Scorpio grabs Navig8 Product Tankers
New York-listed products tanker owner swells fleet with deal to take over Oslo OTC-listed rival.
- Golden Ocean ready to further deleverage
Bulker owner sees Quintana fleet acquisition reduce its breakeven levels as it posts smaller-than-expected loss.
- Norway offering ship retrofit cash
Export Credit Norway wants a slice of ballast water and exhaust gas finance market.
- Hoegh LNG profit on the rise
Higher revenue and lower finance costs boost first-quarter bottom line.
- New investor moves into Seadrill restructuring picture
Significant progress made in talks with banks as Fredriksen company eyes cash injection; plan likely to involve Chapter 11 or similar arrangements.
- Essar Shipping buys panamax bulker
Indian shipowner expands fleet to 14 vessels with latest second-hand acquisition.
- Glencore eyes possible Bunge takeover bid
Analysts say deal could make Swiss commodity firm a major US agricultural power.
- Bidders said to be emerging for UACC
Trio of Gulf-based firms touted as possible acquirers of UASC stake in chemical tanker owner.
|MAY 24, 2017|
- States call for crude oil volatility standards
A coalition of six state attorneys general expressed strong support for a nationwide limit on the vapor pressure of crude oil transported b...
- Executive Moves: Roadrunner, USA Truck, Crete Carrier and Port of Long Beach
Source: Pressmaster/Shutterstock Roadrunner Transportation Systems, USA Truck, Crete Carrier and the Long Beach Board of Harbor Commissioner...
- Agility aims to reenter U.S. logistics contracts
With Agility's agreement to a misdemeanor in connection to a single $551 invoice and no criminal fine, the Kuwait-based third party logisti...
- AAPA weighs in on Trump's FY2018 budget
The American Association of Port Authorities (AAPA) has expressed concern over declines in various federally funded, port-related programs ...
- Navios upbeat despite growing losses in Q1
Navios Maritime Holdings Inc. had a net loss of $48.7 million in the first quarter of 2017 compared with a loss of $7.5 million in the same...
- Hapag-Lloyd finalizes merger with UASC
Germany's largest ocean carrier, Hapag-Lloyd, completed its merger today with United Arab Shipping Co. (UASC), a Kuwait-based carrier owned...
- Diana Containerships reports $7.4m Q1 loss
Athens-based ship lessor Diana Containerships Inc. reported a net loss of $7.4 million for the first quarter of 2017, compared to a net los...
- CMA CGM issues booking cancellation fee
French ocean carrier CMA CGM will implement a booking cancellation fee from North Europe (North Continent, the United Kingdom and Scandinav...
- Port NOLA joins USDA cold treatment pilot
The Port of New Orleans has joined a U.S. Department of Agriculture Southeast cold treatment pilot program that allows for the improved tra...
|MAY 24, 2017|
- East-West 380 CST fuel oil swap at seven month low on weakness in Singapore
The July spread, traded and assessed at $13.25/mt Tuesday, was last lower on October 4 at $13/mt, S&P Global Platts data showed.
- OPEC/non-OPEC committee teases longer oil output cuts beyond nine-month extension
Final agreement still subject to negotiations Thursday
- External: Wired Bunkering
- Length of OPEC/non-OPEC oil output cut still in play: ministers
Eyes are on OPEC's ministerial meeting on Thursday.
- Completion of HAZID paves way for first LPG-fueled ferry using GE's COGES
The COGES system consumes almost no lube oil and meets current and future regulations.
- Japan's MOL to build its first LNG-fueled tug boat
The development of the tugboat will also spur the initial development of an LNG fuel supply system for vessels in Osaka Bay.
- FUTURES: Crude firms ahead of key OPEC/non-OPEC summit
- ANALYSIS: OPEC's quest to manage sentiment hinges on likely oil cut extension
- Sluggish drawdown of inventories remain a concern - OPEC needs to develop sound exit strategy - Members coalescing around nine-month extension
- TANKERS: Scorpio to merge with Navig8 Product Tankers
Following the merger, Scorpio will have a tanker fleet of 38 LR2s, 12 LR1s, 41 Medium Range vessels and 14 Handymaxes.